Amazon seeks to buy MX Player in bid to boost reach
Mint Mumbai|March 20, 2023
Amazon.com Inc. is in advanced talks to acquire MX Player, the video streaming platform owned by Times Internet, three people with direct knowledge of the development confirmed.
Gaurav Laghate
Amazon seeks to buy MX Player in bid to boost reach
 

The US e-commerce giant has hired one of the Big Four accounting firms to carry out due diligence of MX Player exclusively, and the process is expected to take 30-40 days, one of the three people said, requesting anonymity.

A deal could happen within two months if all goes well, the second person said, also declining to be named.

“The talks have been on for a while," said the person. “Earlier, Times Internet was asking for over $100 million for MX Player, while Amazon’s internal team valued it at around 500 crore ($60 million). The deal is likely to be in the range of 600-900 crore."

Queries sent to spokespeople for Amazon and MX Player remained unanswered till press time.

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